AI And DevOps Led For New Unicorns In November

Six companies joined The Crunchbase Unicorn Board in November 2024, with AI and developer operations leading for new unicorns. So far this year, 100 companies have joined the board, compared to 99 for all of 2023.

Five of the new unicorns are U.S.-based and one is headquartered in London.

All six are enterprise focused, and have collectively raised $1.8 billion in funding and added $10 billion in value to the board.

One of the companies raised seed through Series C funding in the span of less than a year.

Four companies exited

Last month, $20 billion in value exited the board.

China-based autonomous driving outfit Pony.ai went public on the Nasdaq, valued at $5.3 billion — below its last private value of $8.5 billion.

Two India-based unicorn companies went public: food delivery company Swiggy — last valued at $10.7 billion in January 2022 — and trucking logistics platform Blackbuck, valued at $1 billion in 2021.

Another unicorn exited via an M&A deal: San Francisco-based API platform Rapid was acquired by mobile phone provider Nokia. Rapid was previously valued at $1 billion in the first quarter of 2022.

November’s minted unicorns

Here are all of the newly minted November unicorns, by sector.

AI

DevOps

• LogicMonitor, an IT observability platform based in Santa Barbara, California, raised an $800 million private equity funding led by Golub Capital and PSG Equity. The 17-year old company was valued at $2.4 billion. In 2018 Vista Equity Partners acquired a majority stake.
• Backup software service Eon, providing instant access to backed up data, raised a $70 million Series C funding led by Bond. Eon has raised seed through Series C funding in less than a year. The 1-year-old New York-based company was valued at $1.4 billion.

Professional Services

• London-based Lighthouse, an intelligence platform for the travel industry, raised a $370 million Series C funding led by PE firm Kohlberg Kravis Roberts. The 12-year-old company was valued at $1 billion.

Cybersecurity

Related Crunchbase unicorn lists:

Related reading:

Methodology

The Crunchbase Unicorn Board is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on Crunchbase data. New companies are added to the Unicorn Board as they reach the $1 billion valuation mark as part of a funding round.

The unicorn board does not reflect internal company valuations — such as those set via a 409a process for employee stock options — as these differ from, and are more likely to be lower than, a priced funding round. We also do not adjust valuations based on investor writedowns, which change quarterly, as different investors will not value the same company consistently within the same quarter.

Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to The Exited Unicorn Board.

Exits analyzed here only include the first time a company exits.

Please note that all funding values are given in U.S. dollars unless otherwise noted. Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.